Friday, June 27, 2008
Time to sell the holiday home!
Only 13 countries in which dwelling price indices are regularly published saw prices rise during the year to end Q1 2008, while 21 countries saw dwelling prices fall in real terms, i.e., after adjusting for inflation. The biggest house price fall was in Latvia (Riga), down -38.2% by May 2008 from a year earlier. The cause of the downturn is blamed on the boom, inflation and bad regulation of banks.